Does My Pension Plan Need to be Audited?

The first step in determining if your pension plan might need to be audited is in understanding the concepts of large plans and small plans. A large plan is a plan with 100 or more participants on the first day of the plan year and a small plan has fewer than 100 participants. Why does this matter? 

2018-11-20T13:33:59-05:00March 22, 2018|Categories: Employee Benefit Plans, Industries|Tags: , , |

In the Employee Benefit Plans World, a Year Does Not Always Equal 12 Months

We all learned in kindergarten that one year equals 12 months. Pretty simple, right? Wrong. In the Employee Benefit Plans world, a year does not always equal [...]

2019-01-16T19:28:05-05:00March 19, 2018|Categories: Employee Benefit Plans, Industries|Tags: |

401(k) Plan Check-Ups Help Plan Sponsors Maintain Compliance

Many employers sponsor retirement plans to benefit their employees. While there are a variety of plans to choose from, one of the most popular options [...]

Do 401(k) Deposit Classifications Really Matter?

Question:  Our payroll person remitted our employee retirement plan “safe harbor” money into the profit sharing accounts of participants.  Does it really matter or can we [...]

Which Is Better – Pre-Tax 401(K) or After-Tax Roth Contributions?

Question: My retirement plan allows me to choose between pre-tax 401(k) contributions or after-tax Roth contributions.  Which is better? Answer: Your pre-tax 401(k) withholding is saved in [...]

Plan’s Interest in a Master Trust – Disclosure Requirements

ASU Issued: The Financial Accounting Standards Board (FASB) issued ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), [...]

Can Stolen Funds be Recouped from Employee’s Retirement Plan?

Question:  One of my employees stole from the company and when we found out we terminated their employment.  Can we use their company retirement plan [...]

2020-01-28T16:25:02-05:00January 30, 2017|Categories: Employee Benefit Plans, Fraud/Forensics, Retirement|

What Is a 401(K) Match “True up” and Why Must I Do It?

Dear Anna, Question:  We’ve been funding an employer matching contribution to the 401(k) plan throughout all last year and now I’m being told I must [...]

2020-01-28T16:24:39-05:00January 3, 2017|Categories: Employee Benefit Plans, Retirement, Small Business|

Retirement and Late 401(K) Deposits Are a Big Deal

Dear Anna, Question:  So we recently changed payroll companies and I just found out the new company hasn’t been remitting the employee 401(k) plan amounts [...]

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